The most recent financial statements for Scott, Inc., appear below. Sales for 2020 are projected to grow by 20 percent. Interest expense will remain constant; the tax rate and the dividend payout rate also will remain constant. Costs, other expenses, current assets, fixed assets, and accounts payable increase spontaneously with sales.

What is the EFN if the firm wishes to keep its debt-equity ratio constant? (Do not round intermediate calculations and round your answer to the nearest whole dollar amount, e.g., 32.)

SCOTT, INC. 2019 Income Statement Sales Costs Other expenses Earnings before interest and taxes Interest expense Taxable income Taxes (23%) Net income Dividends Addition to retained earnings $24,140 51,551 $766,000 622,000 30,500 $ 113,500 15,200 $ 98,300 22,609 $ 75,691 SCOTT, INC. Balance Sheet as of December 31, 2019 Current liabilities $ 25,540 Accounts payable 34,990 Notes payable 71,690 Total $132,220 Long-term debt Owners' equity Common stock and paid-in surplus $223,000 Retained earnings Total Total liabilities and owners' $355,220 equity Assets Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets Liabilities and Owners' Equity $ 62,600 18,500 $ 81,100 $ 114,000 $ 113,000 47,120 $ 160,120 $355,220